Seven Not-So-Obvious Signs You Need to Scale Your Business

Seven Not-So-Obvious Signs You Need to Scale Your Business

Running a business is all about taking risks, and so it may not always be clear when and how you should act. But that doesn’t mean the business is a guessing game. With data, personal experience, or the expertise of others at your disposal, you can make smart, educated decisions about the next steps for your business.

When it comes to scaling your business, timing is everything. Thankfully, there are signs to help you determine the best time to expand and the right growth rate. Below, business leaders from the Rolling Stone Culture Council offer their guidance as they discuss seven signs that it may be time to expand your business and what a leader should do when they see any of these signs.

You exceed your goals

When you consistently exceed your goals and demand is high, it’s time to scale up. Blending market savvy with strategic thinking is critical. Conduct targeted market analysis, measure potential for scaling. Considerately strengthen infrastructure and resources, ensuring your team is positioned to handle this growth. It’s about expanding smartly without losing what makes your brand resonate. – Magen Baker, Bell + Ivy

You’ve Found Real Product Market Fit

One sign is recognizing true product-market fit. If you see signs of this, make sure you get a deep understanding of what customers love about the product and whether there are more customers out there. The path to profitability is serving what your ideal customers love, and that should always be on your mind. Are customers clamoring for your product? Does it grow without high costs? Does it have a strong reputation? – Matt Hutchinson, LeafLink

You get more demand than you can handle

One sign is consistent, growing demand for your products or services that exceeds your current capacity. This could be an increase in sales, an expansion of market opportunities, or customers demanding more. The leader must assess the readiness of the business to scale, including financial stability, operational capability and market conditions. Then develop a strategic plan that covers these aspects. – Christine Marquet, Marquet Media, LLC

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You are still involved in every transaction

Do you personally attend every sales opportunity in your company? If so, it’s time to scale up. A business that relies on the owner’s involvement in every transaction cannot reach its highest potential. As the leader of your company, it’s time to codify your sales process and train your sales team to be as effective as you are so you can focus on the downstream needs of your business. – Vanessa Nornberg, Metal Mafia

You Have Data to Back Up Your Decision

Scaling your business is a risk-based decision that uses data. Speculation is a dangerous game. As your sales team develops a pipeline that determines trust rates, your existing book of business should be linked to lead growth metrics. The main sign that a team is stretched is when senior people make uncharacteristic mistakes. That’s when you jump in. – Mario Naric, Motif Labs

Trend

You have predicted a Future Need or Trend

Leaders and entrepreneurs of scale like Bezos and Musk have the foresight to envision the future of humanity and society. They can imagine the future and create it. They also envision exponential technologies. When and where will the ascension take place? Exponential – they gave us a clue! You can fly the scale from time to time on the curve. Anyone who hires talent for Industry 4.0 will be great. – Igor Beuker, Igor Beuker

You see a drop in productivity

Productivity will decrease. When I see this sign in any field, I appreciate it. What can I do differently? If I bring in people or technology, will it cost more than the end result? Is there anything else accelerating in my “stable”? If so, I weigh current and future market conditions to show where to focus my time, money, and energy. – Susan Johnston, New Media Film Festival®

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